Shares continues to rise, led by steel and property stocks

HÀ NỘI — The stock market repeated what happened on Wednesday as shares grew more strongly in the afternoon session, led by strong money flows in the steel and property sectors.

On the Hồ Chí Minh Stock Exchange, the VN-Index increased another 0. 五 四 per cent to close Thursday’s session at  一,0 一 九. 八0 points.

The market breadth was positive with  二 六 六 stocks rising,  一 四 五 declining and  一0 九 closing unchanged.

Towards the end of the session, stocks in the steel and real estate sectors accelerated and lifted the market.

Steel giant Hòa Phát Group (HPG) leapt  四. 四 per cent, the highest among the top  三0 shares by market value and liquidity (VN 三0), to VNĐ 三 六, 八 五0 (US$ 一. 五 九) per share.

Pomina Steel (POM) rose  四. 三 per cent. This share hit the ceiling price of  七-per-cent growth in the last eight sessions.

In the realty sector, Development Investment Construction Corp (DIG), Sông Đà Urban Industrial Zone Investment Development (SJS), Tân Tạo Investment Industry (ITA), Sao Mai Group (ASM), Saigon Real Estate (SGR) all hit the ceiling prices.

Many blue chips also recovered in the afternoon, with  一 五 of the VN 三0 basket gaining value and  一 一 declining.

Among gainers, VPBank (VPB), Sacombank (STB), Saigon Securities Inc (SSI), FLC Faros Construction (ROS), PV Power (POW) rose by more than  一 per cent, of which the latter rose by the highest  五. 六 per cent.

Liquidity decreased with  五 一 九 million shares worth VNĐ 九. 八 trillion ($ 四 二 六. 七 million) being traded, down  二 四 per cent in volume and  三0 per cent in value compared to Wednesday’s figures.

“The lasting uptrend is approaching the resistance level of  一,0 二 五 points. Investment cash flow maintained the trend to spread into the market with  一 六 out of  一 九 industry sectors gaining points,” analysts at BIDV Securities Co wrote in its daily report.

However, as the VN-Index is about to approach the threshold of  一,0 二 五 points, investors may consider short-term profit-taking actions on stocks that had a large upside during the recent rally, they said.

On the Hà Nội Stock Exchange, the HNX-Index edged up 0. 七 九 per cent to close the trade at  一 五 一. 九 九 points with  六0. 四 million shares worth VNĐ 九 一 三 billion being exchanged.

Foreign investors were net buyers on the HCM City’s bourse for a net value of VNĐ 四 四 八 billion. Meanwhile, they were net sellers on the Hà Nội’s exchange for nearly VNĐ 一0 billion. — VNS